How To Resolve CIBIL-Related Disputes?

Credit reports are a vital facet of the loan application process. However, your credit report may sometimes contain errors that can harm your loan eligibility. In such cases, you can file a dispute with CIBIL to have these mistakes corrected immediately. This article details how to resolve a dispute with CIBIL or credit.

What Is CIBIL Dispute?

A credit score is a three-digit number that indicates creditworthiness. Your credit report— based on your credit history—contains this score.

Your credit report summarises past loans and financial and personal information about you. Any discrepancy in the report will negatively affect your credit score. It is advisable to contact CIBIL to resolve this issue. This process of contesting any errors in your credit report is known as a CIBIL dispute.

Types Of CIBIL or Credit Dispute

1. Individual Dispute

These disputes may arise from duplicate accounts or mistakes in personal details. Errors in personal information include incorrect names or addresses. Additionally, a duplicate dispute may occur because of an unrecognised credit inquiry or double reflection of a loan.

2. Company Dispute

The credit reports of companies may contain such discrepancies. These include incorrect ownership details, inaccuracies in data, duplicate accounts, and company information. You can raise an online dispute when you are the company's authorised signatory.

How To Raise A Dispute with CIBIL?

1. Online Portal

CIBIL accepts online and offline complaints. Follow the steps below for a quick resolution:

• Using your CIBIL account details, log in to 'My CIBIL'. If a lender sends your existing report, you must register an account on the CIBIL website.
• Click on 'dispute an item' under the 'Credit Reports' section of the Dispute Center.
• In the next step, fill out the CIBIL dispute resolution form correctly.
• Fill in the correct details in the relevant section where you would like to raise a dispute. This dispute resolution form allows you to raise multiple issues.

2. Email ID

You can contact customer service representatives via email since it doesn't have any time restrictions. If you have any questions or complaints, you can email info@cibil.com.

3. Offline

You can quickly resolve discrepancies in your CIBIL Report through online dispute resolution. However, you can also write to CIBIL's registered office in Mumbai to raise a dispute.

Address: TransUnion CIBIL Limited
One World Center, 19th Floor, Tower 2A and 2B,
Senapati Bapat Marg,
Lower Parel, Mumbai – 400 013

Process Of Dispute Resolution

The CIBIL dispute resolution process is as follows.

• You will see the relevant sections marked as 'under dispute' when you submit the dispute resolution CIBIL form online.
• To verify the error, CIBIL reaches out to the financial institution.
• Lenders may accept or reject disputes here.
• Lenders that accept the issue will make the necessary corrections in your credit report and notify you through mail or SMS on the mobile number you registered with them.
• A credit report's 'Under dispute' tag is removed when the bureau successfully resolves the dispute.

The bureau may take up to 30 days to resolve the issue. Therefore, it's essential to review its progress.

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Frequently Asked Questions

Q1. Can I raise a CIBIL dispute offline?
Ans. Yes. You can submit a dispute with CIBIL by writing to its Mumbai corporate office. Please ensure to fill in all the necessary details, such as the transaction ID and report order number, before sending the application to CIBIL registered office address.

Q2. What is the CIBIL dispute resolution time frame?
Ans. In most cases, CIBIL disputes are resolved within 30 days.

Q3. What if you are not satisfied with the resolution of your dispute?
Ans. You can submit another dispute resolution request if you are unsatisfied with the resolution.